QualityStocks would like to highlight
Armco Metals Holdings (
NYSE: AMCO), engaged in the sale and distribution of metal ore and non-ferrous metals throughout China, and the recycling business in China. Customers include some of the fastest growing steel producing mills and foundries throughout China. Raw materials are acquired from a global group of suppliers located in various countries, including, but not limited to, Brazil, India, Indonesia, Ukraine, and the United States. Armco Metals' product lines include ferrous and non-ferrous ore, iron ore, chrome ore, nickel ore, magnesium, copper ore, manganese ore, steel billet, and recycled scrap metals.
In the company’s news,
Armco Metals, a competitive player in metal distribution and metal recycling in China’s booming steel industry, aims to become the largest, most reliable recycled scrap steel provider in the country. Operating five subsidiaries that harmoniously collaborate to meet increasing market demands, Armco Metals provides recycled scrap steel and metal and nonferrous metal ores imported from more than 10 countries.
Armco Metals’ subsidiaries are strategically located throughout China, enabling the companies to capitalize on the country’s existing infrastructure and improve import and distribution logistics and costs. Through its subsidiaries in the port cities of Hong Kong, Shanghai, and Lianyungang and the mainland city of Zhengzhou, Armco Metals is able to rapidly distribute recycled scrap steel and metal and nonferrous metal ores throughout the country.
Since its founding in 2001, Armco Metals has established long-standing relationships with more than 100 small-sized and medium-sized metal producers, and under its current management team has experienced considerable growth in the last seven years.
Employing a business strategy based on his extensive industry management experience, Armco Metals’ Chief Executive Officer Kexuan Yoa has guided the company from a foreign enterprise specialized in metal ore trading to a global company in the integrated business of import, production, sales and distribution.
Yoa joined Armco in 2008. In addition to his roles as CEO and chairman of the board, he also serves as chairman and general manager of the company’s Armco Metals International Ltd. subsidiary. Prior to his employment with Armco, Yoa for five years served as the general manager of the Tianjin Branch for Zhengzhou Gaoxin District Development Co. Ltd., a Chinese metal distribution business for which he was responsible for managing and coordinating the delivery of iron ore from around the world to China.
Yoa works alongside Chief Financial Officer Fengtao Wen, who has also been with Armco in this capacity since 2008. Since 2005, Wen has also served as the accounting manager of Armco Metals International and its subsidiary, Henan Armco & Metawise Trading Co., Ltd. Wen graduated from the Economics Department of Zhengzhou University in 1996 and promptly took a position in the accounting department of Zhengzhou Smithing Co. Ltd. where he remained until joining Armco nine years later.
Armco’s core leadership team also includes Weigang Zhao, vice general manager of Armet (Lianyungang) Renewable Resources and member of Armco’s board of directors. Zhao joined Armco’s board in 2008, a year after he obtained his position with Armet (Lianyungang) Renewable Resources. Zhao previously served as a manager in the supply department at Henan Anyang Steel Co. Ltd.; and as marketing manager at Sinotrans Henan Co. Ltd.
Leveraging more than a decade of relevant industry experience, the skilled executive management team of Armco is heading the push toward the company’s corporate goals of becoming the largest scrap steel recycler in China while increasing shareholder value.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
